Equity Alert
Kalyan Jewellers up 7%; co's Q3 revenue jumps on festive demand
This story was originally published at 10:59 IST on 7 January 2026
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Equity Alert: Kalyan Jewellers up 7%; co's Q3 revenue jumps on festive demand
MUMBAI--1100 IST--Shares of Kalyan Jewellers India rose almost 7% to an over three-month high of INR 535 on NSE on Wednesday after the company released its Oct-Dec business update, which showed its consolidated revenue for the December quarter rose 42% on year. At 1042 IST, shares of the company were slightly off highs and traded 5% higher on NSE. Around 9.49 million shares of the company have exchanged hands so far on the bourse, 17 times the number of shares traded till the same time Tuesday.
Revenue from the company's India operations grew about 42% on year during the period, driven primarily by strong festive demand. The company's revenue from international operations, which contributed to 11% of its December quarter top line, grew 36% on year. In Oct-Dec, the company launched 21 Kalyan showrooms in India, one Kalyan showroom in the UK, and 14 Candere showrooms in India. As of Dec. 31, its total number of showrooms across India and international markets stood at 469 with 318 Kalyan India stores, 38 Kalyan West Asia stores, two Kalyan USA stores, one UK Kalyan store and 110 Candere stores.
In India, demand during the period after Diwali also continued to be strong despite volatility in gold prices, the company said in the business update. It added that growth was broad-based across plain gold and studded categories. The December quarter recorded same-store sales growth of around 27%.
All the four brokerage recommendations available with Informist on the stock have a 'buy' rating with an average target price of INR 683. (Eshitva Prakash)
Equity Alert: Indices remain lower as shares of financial svcs cos weigh
MUMBAI--1045 IST--Benchmark indices continued to trade lower Wednesday as the fall in shares of financial services companies weighed. Index heavyweight HDFC Bank was down over 1%. However, its peer ICICI Bank rose nearly 1%.
At 1034 IST, the Nifty 50 was at 26132.40 points, down 46.30 points or 0.2% and the BSE Sensex was at 84897.19 points, down 166.15 points or 0.2%.
Titan Co. was the top gainer in the Nifty index during the first hour of trade. The stock was up over 4% and hit an all-time high of INR 4,300. Sun Pharmaceutical Industries' shares were up nearly 2%. Most of the information technology stocks were in the green, with Infosys, Tech Mahindra, Wipro, and HCL Technologies up 1-2%. These stocks rose tracking the gains on the Wall Street due to a surge in technology stocks.
Cipla fell over 2% to be among the worst hit in the 50-stock index. The stock fell after the US Food and Drug Administration issued numerous observations to the company's partner Pharmathen International. The US FDA said the company did not comply with procedures to prevent contamination, sampling plans and test procedures, and failed to establish procedures to assure drug's purity and quality, CNBC-TV 18 reported.
Among the sectoral indices, Nifty Consumer Durables was the top gainer, up nearly 2%, supported by gains in Titan Co and Kalyan Jewellers India. Nifty Auto was the worst hit, down 0.5%.
Shares of Kalyan Jewellers India rose 5%, to be the top gainer in the Nifty 200 index. The Kerala-based jewellery maker's stock rose after its consolidated revenue for the December quarter rose 42% on year, driven by strong festive demand during the period. Meanwhile, Mahindra & Mahindra Financial Services was the worst hit in the index, down nearly 3%.
Elecon Engineering Co. was the top gainer in the Nifty 500, up over 6%, while Sun TV Network was the worst hit, down over 3%. (Adhithya Aji)
Equity Alert: Tata Motors PV down for 2nd session after JLR Q3 volumes fall
MUMBAI--1040 IST--Shares of Tata Motors Passenger Vehicles fell over 2% to a low of INR 360.45. The stock was down for the second straight session and shed 3.5% during this period. The stock was down after the company, in a quarterly update late Monday, said Jaguar Land Rover's wholesale and retail volumes fell on a quarter-on-quarter and year-on-year basis in the December quarter.
According to the quarterly update, sales during the December quarter were hit as production returned to normal levels only by mid-November after the cyber incident with the company. The company's rival Mahindra and Mahindra launched the electric vehicle XUV 3XO, starting at INR 1.39 million, ex-showroom. It also launched its new sports utility vehicle XUV 7XO, starting at INR 1.37 million.
Wholesale volumes of Jaguar Land Rover in the December quarter, excluding the Chery Jaguar Land Rover China JV, were at 59,200 units, down 43.3% on year and 10.6% on quarter. JLR's retail sales were at 79,600 units during the same period, down 25.1% on year and 6.7% on quarter, the company said.
At 1022 IST, shares of Tata Motors Passenger Vehicles were down nearly 2% at INR 362.05 on NSE. So far, over 3 million shares of the company have changed hands on the exchange, lower than over 9 million shares traded till the same time Tuesday.
Of the 17 brokerage recommendations available with Informist on the company, seven have a 'buy' recommendation with an average target price of INR 788. Six have a 'sell' recommendation with an average target price of INR 441 and the remaining four have a 'hold' recommendation with an average target price of INR 570. (Arundathi A R)
Equity Alert: Cipla dn 3%; report says co's partner gets US FDA observations
MUMBAI--1022 IST--Shares of Cipla fell over 3% to an intraday low of INR 1,481.50 on NSE on Wednesday amid media reports that the US Food and Drug Administration released details of its observations on Pharmathen International, with which Cipla has a partnership to commercialise Lanreotide in the US market. At 1020 IST, around one million shares of the company were traded on the bourse so far Wednesday, almost sevenfold higher than the number of shares traded till the same time Tuesday.
The US FDA's observations point to multiple compliance gaps at Pharmathen's facilities, CNBC-TV 18 said in a social media post on X. These observations include Pharmathen not taking enough precautions to prevent contamination and the company having a weak control system to ensure sterile conditions.
The regulator also said that there were deficiencies in aseptic processing areas and laboratory controls, including the absence of appropriate procedures, according to the report. The US FDA noted failures in establishing adequate processes to ensure the purity and quality of drug products, along with lapses in following approved sampling plans and testing procedures.
Of the 19 brokerage reports available with Informist on the stock, 13 have a 'buy' call on the stock with an average target price of 1,706. Three brokerages say 'hold', while another three have a 'sell' recommendation. (Eshitva Prakash)
Equity Alert: Titan at all-time high; co's jewellery ops surge past estimates
MUMBAI--1000 IST--Shares of Titan Co. rose over 4% to an all-time high at INR 4,290 on the NSE on Wednesday after the company said its jewellery business registered a volume growth of 41% in the December quarter and the domestic sales rose 38% on year in Oct-Dec. This surge in jewellery business was higher than the growth expected by brokerages for this segment. The company said this revenue growth was driven by a substantial increase in average selling price of products, which offset flattish buyer growth.
Sales of the company's jewellery business--Tanishq, Mia and Zoya--grew 40% on year, and CaratLane grew 42% on year. This was significantly ahead of the estimate of 25–30% on year growth by Nomura. The brokerage firm has maintained a 'buy' rating on Titan with a target price of INR 4,500 and expects the company's earnings per share to grow at a compound annual growth rate of 24% over 2025-26 (Apr-Mar) to FY28. The brokerage expects the company's jewellery business to continue to grow faster than the industry and gain around 10% market share by FY28 from unorganised players, which comprise 60% of the industry, as it deepens its reach in lower-tier cities and towns.
After the festive season, gold prices had softened and were down from peak levels, which had led to buyer growth returning, but this has gone back to being flattish for the December quarter, Nomura said in a research report. The brokerage expects the 'old gold exchange offer' marketing amid elevated gold prices to aid sales growth for the company. However, it also sees higher promotions and higher contributions from the old gold exchange scheme can put pressure on its margins.
Nomura sees Titan's foray into lab-grown diamonds with the beYon brand to be positive as it will now enable it to cater to consumers who have a preference for lab-grown diamonds. The industry margins for this segment are estimated to be higher than real diamond jewellery and hence will be gross margin accretive to the overall business, according to the Nomura report.
JM Financial Institutional Securities had an around 25% on year growth projection for the company's jewellery business. Revenue growth was driven largely by a higher selling price, the brokerage said in a report. It noted that gold coins nearly doubled on quarter in sales, reinforcing their strong investment proposition. The brokerage expects the company's jewellery business' earnings before interest and tax margin of 10.8%, down around 40 basis points on year due to custom duty losses. (Eshitva Prakash)
Equity Alert: Indices open lower on fall in financial svcs stocks; IT cos up
MUMBAI--0942 IST--Domestic benchmark indices opened lower Wednesday, dragged down by losses in financial services stocks. Index heavyweight HDFC Bank fell over 1% and weighed on the Nifty 50 index. All information technology stocks opened with gains.
At 0932 IST, the Nifty 50 was at 26126.80, down 51.90 points or 0.2% and the BSE Sensex was at 84875.29 points, down 188.05 points or 0.2%.
Shares of Titan Company were the top gainers in the 50-stock index, up nearly 4%. The company Tuesday said that its jewellery business registered volume growth of 41% in the December quarter. Revenue growth of this business was driven by a "substantial" increase in average selling price of products, which offset flattish buyer growth.
Most information technology stocks were up, with Infosys, HCL Technologies, Wipro, and Tech Mahindra up nearly 1?ch. The stocks rose after US indices ended higher on Tuesday, on gains in technology stocks.
Financial services and bank stocks such as Bajaj Finserv, Shriram Finance, Bajaj Finance, and State Bank of India were down around 1?ch. Pharmaceutical major Cipla was the worst hit in the Nifty 50, down nearly 3%. The stock was also the worst among the Nifty 200 constituents. Tata Passenger Vehicles was down over 2%, among the worst hit in the index.
Tata Technologies rose 5% to be the top gainer in the Nifty 200. JBM Auto was the top gainer in the Nifty 500, up nearly 5%. Meanwhile, Metropolis Healthcare was the top loser in the index, down nearly 3%. (Adhithya Aji)
Equity Alert: Indices seen flat Wed; investors likely to buy in second half
MUMBAI--0900 IST--Analysts expect benchmark indices to remain in a range Wednesday after closing lower for the previous two sessions. However, they see a positive bias on likely better December quarter financial results, expecting investors to buy in the second half of the session.
The GIFT Nifty contracts suggest Nifty 50 index will be flat, trading 29 points higher than the Nifty 50's previous close. At 0855 IST, the GIFT Nifty's January contract was at 26207 points, higher than the Nifty 50's close of 26178.70 points Tuesday. The Nifty 50 is seen facing resistance at 26350-26400 points and may find support at 26100 points, Nirav Harish Chheda, technical and derivatives analyst, Nirmal Bang, said.
The US indices closed higher Tuesday after the Dow Jones Industrial Average rose to a record high. The E-mini Dow Futures contract was over 300 points higher than the previous close of the Dow Jones Industrial Average index. Asian indices were trading mixed in early trade Wednesday, with South Korea's KOSPI leading the gainers.
Tuesday, the Nifty 50 closed lower for the second session at 26178.70 points, down 71.60 points or 0.3%. The BSE Sensex closed at 85063.34 points, down 376.28 points or 0.4%. Market participants will watch for the first advance estimate of GDP for 2025-26 (Apr-Mar), scheduled to be released later in the day, followed by consumer price inflation for the month of December, to be released Monday. (Arundathi A R)
Equity Alert: Indices in Asia largely down; defence cos snap 2-session gains
MUMBAI--0822 IST--Asian indices were largely lower Wednesday as shares of defence sector companies in the region snapped a two-day winning streak, even as investors assess the geopolitical risks pertaining to Venezuela and Greenland.
Shares of Japan's Kawasaki Heavy Industries fell 1% during the session. South Korean company Korea Aerospace Industries stock fell over 1% and Hanwha Corp fell 1.5%. Shares of Poongsan Corp dropped over 4% during the session. White House Press Secretary Karoline Leavitt said US President Donald Trump and his team were looking into "a range of options" to acquire Greenland, which could include the utilisation of the country's military, CNBC reported. The statement further ramps up the president's already aggressive stance towards Greenland, which the president aims to acquire as a part of US, CNBC said.
Australia's S&P/ASX 200 index was trading 0.4% higher. This rise comes after domestic inflation data of the country was below analysts' estimates. The country's CPI rose 3.4% on year in November, below Reuters' expectations of 3.7%. This was also lower than the 3.8% rise seen in October, CNBC reported. For the month, the CPI stayed flat in original terms, while rising 0.2% in seasonally adjusted terms, according to a release from the Australian Bureau of Statistics. The unchanged monthly inflation from October indicates that price pressures may be cooling along with the case for a hike in interest rates, CNBC said.
Shares of South Korean Hyundai Motor surged 11.5% during the session. The shares of the company have risen for six consecutive sessions after it announced that it was planning to deploy humanoid robots in its US factories from 2028, CNBC said.
Following were the levels of key Asian indices at 0814 IST:
|
Level |
Last |
Change in % |
| CSI 300 Index |
4781.62 |
(-)0.19 |
|
S&P/ASX 200 INDEX |
8716.50 |
0.39 |
|
FTSE Singapore Straits Times |
4731.79 |
(-)0.17 |
|
TOPIX FIRST SECTION |
3524.66 |
(-)0.39 |
|
SSE Composite Index |
4078.90 |
(-)0.12 |
|
KOSPI |
4580.70 |
1.22 |
|
Nikkei 225 Day |
52237.41 |
(-)0.53 |
| TAIEX | 30361.26 | (-)0.70 |
| IDX Composite | 8943.02 | 0.11 |
| Hang Seng | 26422.97 | (-)1.08 |
(Akshat Saksena)
Equity Alert: US indices end higher Tue; S&P 500, Dow Jones hit record highs
MUMBAI--0735 IST--Stock indices in the US ended higher on Tuesday. The S&P 500 and the Dow Jones Industrial Average hit record highs of 6948.69 points and 49509.92 points, respectively, as investors seemed to have shrugged off anxieties from the US attack on Venezuela.
The market's reaction to the news about Venezuela highlights the gap seen between headline risk and actual price action, said Angelo Kourkafas, senior global investment strategist at Edward Jones, according to a report by CNBC. Despite Nicolas Maduro's arrest being a significant geopolitical event, it has no immediate implication for oil supply, the factor markets truly care about, Kourkafas said, according to CNBC. The pro-cyclical rally seen since the start of the week reflects strong fundamentals, including an expected expansion of earnings momentum both within and beyond mega-cap technology, the analyst added.
Shares of Amazon and Palantir ended over 3% higher each, CNBC said. Shares of Moderna surged nearly 11% after Bofa Global Research raised the stock's target price, which helped the S&P 500 Health Care Sector index rise nearly 2%, Reuters reported. Memory and storage sector stocks gained during the session after NVIDIA's Chief Executive Officer Jensen Huang gave details, which included a new layer of storage technology, at a Consumer Electronics Show in Las Vegas. Shares of San Disk rose over 27%, those of Western Digital rose 17%, and those of Seagate Technology rose 14%. Shares of Micron Technology gained 10%, as all four stocks hit record highs, Reuters reported. However, Huang's comments on the efficiency of the new chips raised concerns over demand for data cooling systems, with shares of Johnson Controls and Trane Technologies falling 6.2% and 2.5% respectively. AIG said Chief Executive Officer Peter Zaffino would step down from his position, prompting shares of the company to fall 7.5%, according to Reuters.
Investors await economic data as the effects of the record 43-day federal government shutdown subside, with the job openings data and the labour turnover survey data on Wednesday along with the December jobs report on Friday, Reuters said. Markets also analysed comments by Richmond Federal Reserve President Tom Barkin who re-emphasised the US central bank's careful take on further rate cuts, in contrast to comments by Governor Stephen Miran, which advocated stronger rate cuts, Reuters reported.
Following are the closing levels of US indices Tuesday:
|
Index |
Level |
Change in % |
|
S&P 500 |
6944.82 |
0.62 |
|
NASDAQ Composite |
23547.173 |
0.65 |
|
Dow Jones Industrial Average |
49462.08 |
0.99 |
(Akshat Saksena)
US$1 = INR 89.96
IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT
Edited by Avishek Dutta
All prices from National Stock Exchange, unless otherwise specified.
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